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I don't understand how that link shows student loans are a driver of inequality. Black people on average have a higher student loan debt because on average blac
by googlryas 4y ago
I don't understand how that link shows student loans are a driver of inequality. Black people on average have a higher student loan debt because on average black people are poorer than white people in America. If black families are poorer than white families, it generally means they will need to take out a bigger loan to afford college.
- onlyrealcuzzo 4y agoThe problem is largely due to people of color disproportionately attending for-profit colleges to get expensive non-STEM degrees which largely prove to be worthless: https://www.aspeninstitute.org/blog-posts/worse-off-than-when-they-enrolled-the-consequence-of-for-profit-colleges-for-people-of-color/ https://www.aspeninstitute.org/blog-posts/worse-off-than-whe... It's almost as if you shouldn't be able to take on near unlimited non-default-able debt for something that is nearly worthless. These people were put into a debt trap at 18, not saved by the government. It's also interesting that finance is left out of most high school curriculum right before people are signing up for the second (and increasingly the first) most expensive purchase of their lives.
- googlryas 4y agoI mean, they actually are saved by the government. The government has forgiven billions in student loan debt from shady for-profit institutions.
- onlyrealcuzzo 4y agoAfter 20 years of trapping them in debt...